Craftsman Automation IPO
The retail company Craftsman Automation IPO made its debut as a public company on the NSE Stock Exchange in 2021. Investors enthusiastically greeted its arrival on Dalaal Street. The successful launch is an indication investors believe the home improvement retail sector and Craftsman Automation in particular will prosper in the near future.
Craftsman Automation’s IPO price was $24. The stock opened its first trading day at $32.05. The closing price on trading day one was $31.10. The stock reached a high of $33.30 on Monday, November 5th, and currently trades in the low 30’s.
Craftsman Automation began with one California store in 1980. The 1990’s saw major expansion and the company went public on the Nasdaq stock exchange in 1998. During the recession and financial crisis of the 2000s people were not purchasing discretionary items. Restoration Hardware hit a rocky road and was taken private in 2008. It manufactures auto components.
Craftsman Automation IPO Size
Craftsman Automation IPO Size is of around Rs 150 crores and with an offer for sale of 45.21 lakh shares. Craftsman Automation sells high-end household furniture, bedding, indoor and outdoor decor and a long list of other home accessories. Gary Friedman, chairman emeritus of the company, says the company focuses on products with taste, style and high quality.
The marketing works because Craftsman Automation enjoys a degree of customer loyalty. Consumers may purchase items infrequently, but regularly peruse the stores, catalogs and online merchandise and eventually buy again.
Craftsman Automation IPO Updates
Craftsman Automation is currently experiencing an IPO high. Often investors feel they must buy a stock and jump on the bandwagon before the price surges and gets away from them. However that scenario rarely happens. Smart investors wait a few weeks after the IPO hype to purchase the stock.
The stock market does not like uncertainty. Pre-election unknowns riled markets and currently the looming fiscal cliff is contributing to market volatility. Potential investors might consider waiting until after the first of the year. Less market volatility should allow the market and specifically Craftsman Automation stock to settle into a trading range.
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